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Toronto was ranked as the 5th best place to live in Canada. It had the 3rd-highest house prices, averaging $14,933/sq m.

The Toronto Regional Real Estate Board's monthly report indicates an improvement in the Greater Toronto Area's housing market.Home sales through the MLS in February totaled 5,607, ↑ ~18% yearly.

For those in Toronto who manage to buy property, costs beyond the down payment and mortgage are increasing rapidly. Condo maintenance fees have doubled in some areas, reaching over $1,000 per month. Property taxes have also risen by 9.5%, making even small properties unaffordable. Continue to full article

Early-Q1 2024 avg home price: $1,065,800 – Stress test rate: 7.71% – Mortgage rate: 5.71%

Budget allocates millions to support Toronto renters. Emphasis on renters contrasts previous homeowner-focused policies.

Monthly payments become more manageable for young Canadians aiming for homeownership. Some advocate for broader eligibility, expressing concerns about effectiveness in high-priced markets.The industry expects a significant impact, potentially spurring more construction and aiding rental market relief.

$1M gets 2.8 bedrooms, 1.9 baths, 1,218 sq ft in Toronto, less than GTA or national averages.At $2M, expect 4.0 bedrooms, 2.9 bathrooms, 2,940 sq. ft.

Homebuyers are facing changes in agent commissions due to a Realtor settlement. They need to shop for suitable agents, consider limited services or 'a la carte' options, and negotiate for reduced agent fees to navigate the new process effectively. Continue to full article

Deadline: Declarations due by February 29th; unoccupied homes over six months face 3% tax.Declaration Process: Submit online with property details; drop-in sessions also available for assistance.

Prospective renters in Toronto should be cautious when renting online, as two individuals shared their experiences of being scammed out of rental properties. They found listings on Rentals.ca, pre-paid rent, but never received keys or found someone else living in the unit. The platform now verifies landlords to prevent fraud. Continue to full article